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Seco’s commitment to a sustainable future Sustainability serves as the cornerstone of our strategic framework, and we are proud that it’s integrated in everything we do. By consistently challenging industry norms as well as revolutionizing manufacturing processes, we actively contribute to creating a brighter future. By putting sustainability at the core of everything we do, we drive our vision for the industry of Any Shape in a Day, Sustainable in Every Way. Achieving this requires active participation from everybody at Seco and in collaboration with our value chain partners. We believe that to be a sustainable business, we must act with economic, environmental, and social responsibility. This is a guiding principle embedded deeply in our business activities, decision-making processes, and governance structures. This commitment is reflected in our Making Sustainable Solutions program, a testament to our unwavering dedication to support our customers on their journey to a more sustainable world. Our purpose, “Together we make manufacturing fast, easy and sustainable” defines our reason for existing, and underscores how we can make a positive contribution to a society faced with global challenges. The tools we provide enable industries to machine products that touch our everyday lives, and we are committed to provide both sustainable products and solutions. We pledge to take robust climate actions and align our Net Zero commitments with findings in climate science to meet the requirements in the Paris Agreement. Furthermore, we work to reduce our impact on the environment and close material loops through our focus on Circular Business. At Seco, sustainability is not only about products and services – it’s also about people. Our commitment to a culture of Safety First and the protection of Human Rights underscore our dedication to the well-being of those working for Seco as well as those impacted by our company. This policy sets the direction and our engagement with this topic, but it is important to recognize that much of our efforts in this ever-evolving landscape are done behind the scenes. We are committed to continuous improvement and progress in this area. This is just the beginning of Seco’s journey in shaping a brighter and more sustainable manufacturing industry. Stefan Steenstrup President Seco Maria Blomqvist Vice President Sustainability and EHS
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1. Background and purpose Seco believes that to be a sustainable business, the company must act with economic, environmental, and social responsibility while taking advantage of the opportunities that arise from the integration of sustainability throughout the value chain. Any Shape in a Day, Sustainable in Every Way is Seco’s vision, which focuses on inspiring the manufacturing industry and being a sustainable partner to customers. Seco aims to be recognized for responsible manufacturing and resolute actions on sustainability. Sustainable in Every Way is one of the strategic pillars and a part of Seco’s vision. Within this strategic pillar, Seco follows four objectives that guides the sustainability work. The company aims to be regarded as a sustainability role-model in the industry. Seco increase circularity by driving the shift to a circular economy and thereby reduce their climate impact. Lastly, the company put safety on top of the agenda as employees are their most valuable resource. This is driven by Seco’s strategy Making Sustainable Solutions, which highlights yearly goals that work towards the 2030 goals within Climate & Biodiversity, Circularity, People & Communities and Responsible Business. By developing more efficient, safer, and more environmentally friendly solutions, Seco and their partners are taking important strides toward a more sustainable future. This Sustainability Policy provides the framework and minimum requirements for Seco’s sustainability and the aim in Making Sustainable Solutions. 2. Definitions For this policy the following terms and definitions are used to describe and define Seco’s view on sustainability in relation to the sustainability strategy. Circular Economy - refers to an industrial economy where materials never become waste and nature is regenerated. It replaces the “end-of-life” concept with restoration, shifts towards the use of renewable energy, eliminates the use of toxic chemicals that impair reuse, and aims for the elimination of waste through the superior design of materials, products, systems, and, within this, business models. The circular economy tackles global challenges like climate change, biodiversity loss, waste, and pollution. It is based on three principles, driven by design: eliminate waste and pollution, circulate products and materials (at their highest value), and regenerate nature. Double Materiality - includes climate-related financial impact on the company that influence or are likely to influence the enterprise value in the short, medium, or long term but are not captured by financial reporting at the reporting date. It may also refer to the impact of a company on the climate or any other sustainability dimension, including the connection to actual or potential significant impact on people or the environment directly caused or contributed to by Seco and or Seco’s value chain. ESG - Environment, Social and Governance refers to factors measuring the sustainability and ethical impact of an investment in a business. 3 3
